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Has this gem from Mort Zuckerman been linked yet?
The Economy Is Even Worse Than You Think
CRE Green Shoots all over the place today. Fully reflected in the stocks, of course.
This article is correct as far as it goes, but like almost everyone the author states but fails to address that the economy is built on 70% consumer spending. That's unsustainable (absurd, actually). Manufacturing at 65%? What manufacturing?
OT: Still hoping for a mechanism to track favorite posters. I tried Marla's link to track users but 'access denied' was all I got. Would really like that feature. Thanks if you're listening!
Goldman Sachs Group Inc.’s decision to boost compensation and benefits by 33 percent after posting record earnings is raising concern among Democratic lawmakers in Washington.
Looks like the Ho's are going to keep screaming until their pimps to buy them some new panties.
No, you're wrong about REITs being a ticking time bomb. Stop with the sensationalist reporting! Study corporatist states!! There are NO ticking time bombs in such states.
As a matter of fact (because I know a Wells guy), there will be a bailout of REITs. Why do you think the S&P is not a 0? Because everyone knows that EVERY sector of the economy is going to be bailed out, until the economy simpl collapses.
Will that come soon? Well, instead of harping on the underemployment number, look at the unemployment number for people with a Bachelor's degree or higher. In other words, look at unemployment among the fascist cadres.
It's 7.4%. That's not likely to put a crimp in corporatist policy. Who are you kidding?
Tyler, great job on exposing the Evil Empire for what it is. Here's an interesting take on "the Genius of Goldman."
Great comparison between Goldman and the IRS.
Sam Zell dumped his collapsing commercial real estate and bought into the Tribune and the Chicago Cubs. Now his Tribune is bankrupt. And the Cubs will file for bankruptcy. People dont understand that the NFL, MLB, NBA basically went bust about 15 years ago; only to be bailed out with billion dollar stadia paid for by the taxpayor. Without the free stadia, these leagues are bust. It foretold the collapse of stocks and real estate by 10 years. And now Illinois is raising taxes; ostensibly to buy Sam Zell a free stadium for his bankrupt Cubs. This team is worth 50 million without a free stadium.
Careful with the "Cubs will file for bankruptcy" line. They are not going BK, they are just using a Chap 11 BK judge to Obama a sale and bypass all of the little 'minor details / frivilous claims / legal creditors.'
Things get even more disgusting on the goldman end. the trillion dollar CMBS is due to be handled by the NY FED and run the progrm. Of course the head of they NY Fed is another goldman Guy.
All these guys are now calling for a CMBS bailout, and what firm has loaded up on CMBS (goldman again). they buy the shit, then get bailed out with a buddy running the program. Hey it sounds like the treasury over again!!!
Yes, you are right but who the fuck cares? The US couch potato has no incentives to get up and demand justice. He knows the welfare check will come next month, so why should he care?
These people wont stop until there is nothing left but debt on the government side. Then luckily all will collapse, and we might be able to set up something good, where the average person actually has to think and respond to reality, not what makes them feel good.
Why is being long SRS so painful?
The Mets get 500 million in TARP money. The Yankees get 1billion from the taxpayor. The Jets/ Giants get 800 million from the taxpayor. WHy? They are bankrupt. There is no way that they can ever pay for even a fraction of these stadia. The NFL/MLB have 20 years of declining ratings and viewership. Since Tiger Woods started marketing for GM, the whole damn company went bankrupt! But Buick now plans to spend even more for Woods marketing!! idiocy! Only in America!
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